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Listed by Kristopher German, DRE #01800021 • RE/MAX 2000 REALTY
$ 1,175,000
Est. payment /mo
New
1612 Pennsylvania AVE Los Angeles, CA 90033
7,486 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRCV26171813
Year Built 1972
Lot Size 7,486 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
Just Listed! Outstanding value-add opportunity to acquire a 4-unit multi-family property in Boyle Heights, offering a rare combination of immediate vacancy and strong day-one cash returns. The property is currently operating at a 6.28% CAP Rate and 11.57 GRM, with three of the four units to be delivered vacant, allowing investors to lease at current market rents from the outset and maximize thier cash flow. Built in the 1970s, the property features a highly desirable and diverse unit mix consisting of a detached single-story 2-Bedroom/1-Bath cottage, one 2-Bedroom/2-Bath unit with a den, and two 2-Bedroom/1-Bath units, totaling approximately 3,385 rentable square feet on a 7,486 sq. ft. lot. Residents enjoy the privacy of a gated entry along with onsite garage parking, while ownership benefits from an efficient operating structure with tenants paying ALL utilities, including electricity, gas, trash and water! Adding to the property's long-term value is the potential to convert the standalone garage into an ADU (buyer to verify), creating an additional opportunity to increase future income. Conveniently located near the I-10, I-5, and 101 Freeways, the property offers excellent access to Downtown Los Angeles, major employment centers, shopping, dining, and public transportat
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Rooms
Kitchen None
Interior
Cooling Window / Wall Unit
Laundry None
Exterior
Parking Features Assigned Spaces, Garage, Other
Garage Spaces 4.0
Pool 31, None
View None
Roof Type Shingle
Building
Story One Story
Water District - Public
Others
Tax ID 5174024035
Special Listing Condition Not Applicable
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